http://EthicalBusinessBuilder.com/2009/01/02/how-to-prepare-your-business-for-running-without-you/ Be an Ethical Entrepreneur, Marketer, and Business Builder Thu, 26 Apr 2012 16:56:17 +0000 hourly 1 http://wordpress.org/?v=3.3.2 http://EthicalBusinessBuilder.com/2009/01/02/how-to-prepare-your-business-for-running-without-you/comment-page-1/#comment-99 The fundamentals of Buying, Building, and Selling a business « Ethical Business Builder’s Weblog Sat, 31 Oct 2009 03:11:38 +0000 http://ethicalbusinessbuilder.com/?p=197#comment-99 [...] culture, improving teamwork, and communicating effectively. Right out of the gate you need to start setting up your business for running without you through the effective use of technology, incentives, and empowering your team. If you don’t [...] [...] culture, improving teamwork, and communicating effectively. Right out of the gate you need to start setting up your business for running without you through the effective use of technology, incentives, and empowering your team. If you don’t [...]

]]> http://EthicalBusinessBuilder.com/2009/01/02/how-to-prepare-your-business-for-running-without-you/comment-page-1/#comment-100 How I nearly doubled profits the first year of my first business… « Ethical Business Builder’s Weblog Sun, 19 Apr 2009 20:32:56 +0000 http://ethicalbusinessbuilder.com/?p=197#comment-100 [...] Cut personnel to only what’s necessary to be profitable. This will also be on my lists of things I would change. By nature I’m a “nice” guy so letting someone go is tough. However when it’s necessary it needs to be done quickly and decisively. The easy way to know if it’s being done is if you provide benchmarks, procedures, and responsibility lists and a team member isn’t holding up his or her end of the bargain it’s time to move on. This is also paramount if you want your business to run on its own. [...] [...] Cut personnel to only what’s necessary to be profitable. This will also be on my lists of things I would change. By nature I’m a “nice” guy so letting someone go is tough. However when it’s necessary it needs to be done quickly and decisively. The easy way to know if it’s being done is if you provide benchmarks, procedures, and responsibility lists and a team member isn’t holding up his or her end of the bargain it’s time to move on. This is also paramount if you want your business to run on its own. [...]

]]> http://EthicalBusinessBuilder.com/2009/01/02/how-to-prepare-your-business-for-running-without-you/comment-page-1/#comment-102 ethicalbusinessbuilder Sun, 22 Feb 2009 03:09:36 +0000 http://ethicalbusinessbuilder.com/?p=197#comment-102 Hey Dan, Sorry if I made it sound as if every franchise is perfect. I have plenty of difficulty and challenges with our franchisor at times however they've been marketing for 70 years and I can't begin to match that kind of name recognition and branding. In my business our lead cost is around $200 per customer compared with about $600-$800 for independents so that obviously makes a big difference. My point is mainly that a "good" franchise will and SHOULD provide you with processes, procedures, training, technical support, marketing support, and national or regional branding and of course all at a fee. Obviously every franchise doesn't meet that criteria and the ones who don't should be avoided as you've learned the hard way. A good franchise will always make your life a WHOLE lot easier when you're getting started at running your own business. You had 16 years experience BEFORE getting a franchise so that puts you in a completely different ball park than someone buying their first business. Check out my <a href="http://ethicalbusinessbuilder.com/2009/01/24/skip-business-school-buy-your-first-business-and-make-it-a-franchise/" rel="nofollow">recent blog</a> on the topic. With your 16 years experience, you undoubtedly already have your own processes, procedures, and systems that rival that of the best franchises since they're tailored to your needs. Thanks for the input! Hey Dan, Sorry if I made it sound as if every franchise is perfect. I have plenty of difficulty and challenges with our franchisor at times however they’ve been marketing for 70 years and I can’t begin to match that kind of name recognition and branding. In my business our lead cost is around $200 per customer compared with about $600-$800 for independents so that obviously makes a big difference. My point is mainly that a “good” franchise will and SHOULD provide you with processes, procedures, training, technical support, marketing support, and national or regional branding and of course all at a fee. Obviously every franchise doesn’t meet that criteria and the ones who don’t should be avoided as you’ve learned the hard way. A good franchise will always make your life a WHOLE lot easier when you’re getting started at running your own business. You had 16 years experience BEFORE getting a franchise so that puts you in a completely different ball park than someone buying their first business. Check out my recent blog on the topic. With your 16 years experience, you undoubtedly already have your own processes, procedures, and systems that rival that of the best franchises since they’re tailored to your needs. Thanks for the input!

]]> http://EthicalBusinessBuilder.com/2009/01/02/how-to-prepare-your-business-for-running-without-you/comment-page-1/#comment-101 Dan Smith Sat, 21 Feb 2009 12:14:59 +0000 http://ethicalbusinessbuilder.com/?p=197#comment-101 Are you kidding me! We have owned 4 motels over the past 16 years 3 independent and this past year we bought into a franchise so far we would not do it again! After 16 years we run our own properties much more efficiently. We have never handed over $25,000.00 and been treated so badly. Never will return an email or phone call in a timely fashion. Losing documentation all the time. Found out that if we had been a different nationality we would have got a cut on our franchise fees and possibly an improvement loan for a better interest rate. Nobody does a better job of running their own businees than you yourself. It's your money! Are you kidding me! We have owned 4 motels over the past 16 years 3 independent and this past year we bought into a franchise so far we would not do it again! After 16 years we run our own properties much more efficiently. We have never handed over $25,000.00 and been treated so badly. Never will return an email or phone call in a timely fashion. Losing documentation all the time. Found out that if we had been a different nationality we would have got a cut on our franchise fees and possibly an improvement loan for a better interest rate. Nobody does a better job of running their own businees than you yourself. It’s your money!

]]> http://EthicalBusinessBuilder.com/2009/01/02/how-to-prepare-your-business-for-running-without-you/comment-page-1/#comment-103 Stacey Derbinshire Sat, 03 Jan 2009 01:45:27 +0000 http://ethicalbusinessbuilder.com/?p=197#comment-103 Nice site. There’s some good information on here. I’ll be checking back regularly. Nice site. There’s some good information on here. I’ll be checking back regularly.

]]>